Overview
What is Carolina Business Capital Inc?
Carolina Business Capital Inc, located at 1307 W Morehead ST STE 201, Charlotte, NC 28208, is a nonprofit organization that plays a crucial role in the economic growth and development of small businesses in North Carolina. Designated as a certified development company by the U.S. Small Business Administration, Carolina Business Capital Inc has exclusively participated in the SBA 504 and 503 programs. Their primary mission is to promote business expansion and success, achieving this through the origination and servicing of SBA loans. With a team of three dedicated individuals, they strive to empower small businesses, contributing to the overall economic vitality of North Carolina.
Official website here: www.cbc504.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating
Carolina Business Capital Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting a strong emphasis on accountability and finance. The organization's score is based entirely on its performance in this area, where it excels, particularly with a program expense ratio of 94.11%, indicating that the vast majority of its resources are directed towards its mission.
The organization demonstrates exemplary governance practices, with a fully independent board composed of 12 members. It received perfect scores in several categories, including financial audits, material diversion of assets, and various policy implementations such as conflict of interest and whistleblower policies, showcasing its commitment to transparency and ethical operations.
While the overall rating is impressive, the analysis does not provide insights into the organization's specific programs or impact metrics, which could offer a more comprehensive view of its effectiveness in serving its community. Nonetheless, the high ratings in accountability and financial management suggest that Carolina Business Capital Inc is well-managed and focused on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Carolina Business Capital Inc legitimate?
Carolina Business Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carolina Business Capital Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $140,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $102,749
For more financial information, click here
Official website here: www.cbc504.com
What is the mission statement of Carolina Business Capital Inc?
Carolina Business Capital Inc, as a nonprofit organization, is committed to fostering economic growth and development for small businesses in North Carolina. They accomplish this by originating and servicing Small Business Administration (SBA) loans. As a certified development company, they have exclusively participated in the SBA 504 and 503 programs. Their primary goal is to support the growth and success of small businesses in the region.
Official website here: www.cbc504.com
Who is the CEO of Carolina Business Capital Inc?
Eric L Dixon is the President of Carolina Business Capital Inc.
Official website here: www.cbc504.com
What is the revenue of Carolina Business Capital Inc?
Carolina Business Capital Inc's revenue in 2022 was $691,747.
Official website here: www.cbc504.com
Who are the executives of Carolina Business Capital Inc and what are their salaries?
The average compensation at Carolina Business Capital Inc during 2022 was $80,916. There are 3 employees at Carolina Business Capital Inc.
Here are 13 key members and their salaries:
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Official website here: www.cbc504.com
Where can I find the form 990 for Carolina Business Capital Inc?
Carolina Business Capital Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cbc504.com
Learn more at the official website: www.cbc504.com
Mission Statement of Carolina Business Capital Inc
Carolina Business Capital Inc, a nonprofit and non-stock corporation, is dedicated to fostering economic growth and development in North Carolina's small businesses. They accomplish this mission by originating and managing Small Business Administration (SBA) loans. As a certified Development Company, designated by the U.S. Small Business Administration, Carolina Business Capital Inc has solely participated in the SBA 504 and 503 programs, contributing to the financial stability and expansion of numerous small businesses in the region.
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Impact
July, 2024
Carolina Business Capital Inc has a significant impact on the economic growth and development of small businesses in North Carolina. By promoting and facilitating access to SBA loans through their designation as a certified development company, CBC plays a vital role in helping small businesses secure the necessary funding to expand, create jobs, and contribute to the local economy. Through their focus on the SBA 504 and 503 programs, CBC demonstrates a commitment to supporting business growth and development in a strategic and impactful manner. Overall, Carolina Business Capital Inc's work directly contributes to the enhancement of the small business landscape in North Carolina, fostering community improvement and economic vitality.
This information is meant to be a general summary of Carolina Business Capital Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $117,896
- Program Service Revenue: $573,851
- Gross Receipts: $1,829,845
Assets and Liabilities:
- Total Assets: $4,164,903
- Total Liabilities: $139,847
- Net Assets: $4,025,056
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEES
Revenue
$350,909
FLOAT FEES
Revenue
$45,395
LOAN PROCESSING FEES
Revenue
$117,850
SBA 7A LOAN INTEREST
Revenue
$22,480
MISCELLANEOUS
Revenue
$37,217
Organization Details
Founding Year
1982
Principal Officer
Eric L Dixon
Main Address
1307 W MOREHEAD ST STE 201, CHARLOTTE, NC, 28208
Website
www.cbc504.comNTEE Category
Code: S430 - Community improvement
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